- US markets were highly Volatile Yesterday.
- At went time Dow Jones was up 300 Points but then it closed Flat.
- We have witnessed more than 1200 Point rally for November series upto now.
- Last Month also this rally was witnessed at the beginning of the Month and then we witnessed a Consolidation for the rest of the Month.
- Expecting the same for this Month as well.
- High Probability of Consolidation for the rest of the series.
- Range would be between 12400-13000.
- SGX Nifty is Trading near 12700.
- Financial Stocks have been Outperforming Significantly now.
- Bank Nifty has Rallied 5000 Points in last 10 trading Sessions.
- So every dip from now is a buying Opportunity.
- Markets are ignoring all the negative news and just climbing the walls of worry.
- All this is due to low interest rates.
- High inflows are coming into the Market.
- Pfizer announced that it has successfully tested Corona Virus vaccine.
- All results show that it has gained more than 90% results in defeating the virus.
- Sector rotation has been happening in the Market due to the same.
- Previously , IT and FMCG were the flavour.
- But after this news money has been shifting from these stocks to Financial Stocks.
- So this Bull Market has many legs to support it.
- Nifty might Trade between 11620-11780 today.
- stockmarketadvisory.in
U.S Markets closed higher yesterday. Most importantly , S&P 500 VIX crashed 10%. There was huge Volatility in global markets due to Fed event. Markets remain volatile only when they have topped out or have bottomed out. Right now I feel we have bottomed out at 16850. Asian markets are slightly lower now. Dow futures are lower. SGX Nifty is at 17500. Finally , the most awaited day has come. Budget 2022 is going to be presented today. Expectations are of a good and stable budget. Reasons are the Elections coming up and LIC IPO in March. Govt very well knows if LIC IPO has to go through , Market sentiment has to be good. Without good market spending it would be very difficult for IPO to go through. Market had already fallen a lot before the budget. Although we have rallied in last 2 days but still we have some upside left. Though I feel it's not favourable to chase today's gap up. Today's gap up is a good opportunity to book profits those who carried longs. Bud
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